News & Analysis as of

Climate Change Fiduciary Duty Environmental Social & Governance (ESG)

Mintz - Energy & Sustainability Viewpoints

Energy & Sustainability Litigation Updates — July 2024

On June 4, 2024, a number of Congressional Democrats (10 Senators; 28 Congressmen) sent a letter to SEC Chairman Gensler, urging that the SEC “enforce existing SEC climate disclosure-related guidance” while the legal...more

Paul Hastings LLP

Pecuniary vs. Nonpecuniary Factors: Understanding the Potential Scope of Anti-ESG Restrictions in U.S. State Laws

Paul Hastings LLP on

Executive Summary and Overview- State anti-ESG lawmakers have enacted legislation aimed at restricting investors from considering ESG factors in their investment strategies and decisions by requiring state financial...more

Mintz - Energy & Sustainability Viewpoints

Energy & Sustainability Litigation Updates - January 2024

Federal Regulatory Developments - In a recent filing with the Office of Management and Budget, the Securities & Exchange Commission disclosed that the vote by the SEC Commissioners as to whether to issue the SEC’s...more

Jenner & Block

Client Alert: Antitrust and ESG—How to Stay Ahead of the Game

Jenner & Block on

On May 15, 2023, 22 state attorneys general sent a letter to several insurance companies warning that the companies’ Environmental, Social, and Governance (ESG) policies may violate the antitrust laws. Just six weeks earlier,...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

ESG: Important New Considerations for Employers

Consideration of environmental, social, and governance (ESG) issues is becoming increasingly important for companies when conducting business and in dealings with investors and employees. The increased emphasis on ESG poses...more

Cadwalader, Wickersham & Taft LLP

Investors Accuse Large Asset Manager of Not Adequately Addressing Climate Risk

More than 1,400 individual investors have signed a letter asserting that a large U.S.-based asset manager is violating its fiduciary duty to mitigate climate-related investment risks....more

Cadwalader, Wickersham & Taft LLP

Launch of State Alliance Against “ESG Investing”

On March 16, 2023 the Republican governors of 19 states announced an alliance led by Florida Governor Ron DeSantis, to “push back against President Biden’s environmental, social, corporate governance (ESG) agenda that is...more

Cozen O'Connor

AG Coalition Accuses Proxy Advisors of Prioritizing Environment, Diversity over Financial Gain for Clients

Cozen O'Connor on

A group of 22 AGs wrote a letter to proxy advisory firms International Shareholder Services, Inc. (ISS) and Glass, Lewis & Co. accusing the companies of potentially violating federal and state laws regarding the advice and...more

Holland & Knight LLP

DOL Issues Final Rule on Climate Change, ESG Factors for Retirement Plan Investments

Holland & Knight LLP on

The U.S. Department of Labor (DOL) on Nov. 22, 2022, announced its adoption of amendments to the regulation setting out retirement plan fiduciary duties of prudence and loyalty under the Employee Retirement Income Security...more

Mintz

Department of Labor Enables Consideration of ESG Factors in ERISA Investments

Mintz on

Yesterday, the Department of Labor "released a final rule under the Employee Retirement Income Security Act (ERISA) . . . [that] clarif[ied] that fiduciaries may consider climate change and other environmental, social, and...more

K2 Integrity

ESG Certification: Assisting in Mitigating Greenwashing for Investors, Managers, Funds and Regulators

K2 Integrity on

There have been numerous positive developments in the evolution of ESG investing. Still, the research needed to assess which investments are truly ESG-compliant and which are tantamount to greenwashing is burdensome...more

Morgan Lewis - ML Benefits

DOL Seeks Input on Climate Change’s Impact on Retirement Security

The US Department of Labor (DOL) recently announced that it is seeking comment on the impact of climate change on retirement security and what actions, if any, the agency should take to protect retirement savings from such...more

Latham & Watkins LLP

10 Key Focus Areas for UK-Regulated Financial Services Firms in 2022

Latham & Watkins LLP on

Environmental, social, and governance (ESG) considerations have come to the forefront of firms’ regulatory change agendas in recent years, and this focus looks set to continue in 2022. The past year has witnessed significant...more

Morgan Lewis

Net Zero Asset Managers Initiative – Roadmap to a Compliant Commitment

Morgan Lewis on

While the Net Zero Asset Managers Initiative commitment (the NZAMI Commitment) is a clear signal to the market of an asset manager’s commitment to addressing the risks and challenges of climate change, it is a significant...more

Bracewell LLP

ESG Investing and Retirement Plans

Bracewell LLP on

Background - As ESG (environmental, social and governance) investing recently has drawn the attention of governmental agencies that oversee the administration of qualified retirement plans and their trillions of dollars...more

Goodwin

SEC Adopts Broad Exempt Offering Reforms

Goodwin on

In the News. The Securities and Exchange Commission (SEC) adopted broad exempt offering reforms; the Department of Labor (DOL) finalized a rule, with significant revisions from the original proposal, on ESG investments; the...more

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